Irish whiskey label, Element, has struck a significant deal to introduce 15,000 bottles of its renowned whiskey into the Nigerian market.
Parented by New Era Spirits, the brand’s move into Nigeria follows an acknowledgement of the nation’s notable Irish whiskey market growth, soaring by 390% between 2016 and 2021.
Fionn Cox, co-founder of Element and former brand ambassador for Jameson Irish whiskey in West Africa, says the decision was taken because Nigeria is an emerging economic giant.
“Nigeria is often referred to as the ‘giant of Africa’ due to the emergence of its increasingly developing economy,” Cox mentioned, emphasizing the alignment between the rising young professional demographic in Nigeria and Element Irish Whiskey’s targeted consumer base.
While the US currently dominates whiskey sales (42% of total sales), non-traditional markets like Africa and the Far East are viewed as promising zones for premium brands.
Cox emphasized that the Gen X/Y demographic, representing the largest consumer group, exhibits rapid growth and unsatisfied desires within the current whiskey market landscape.
Element’s range comprises two distinct expressions: the Fusion Series R/1.0 and the Lore Single Malt R/1.0, priced at €49.50/US$54 and €65/US$71, respectively.
The Fusion Series R/1.0, launched in November 2022, boasts a blend of single malt and single grain whiskeys matured in ex-Bourbon, virgin American oak, oloroso Sherry, and seasoned stout casks.
On the other hand, the Lore Single Malt R/1.0, unveiled in May 2023, underwent finishing in ex-Bourbon, Madeira, and sweet Moscatel casks.
This expansion into Nigeria marks the seventh market entrance for Element since its inception in 2022.
The brand seeks to capitalize on Nigeria’s burgeoning whiskey market, following the notable success of Jameson, which sold 200,000 cases in the region in 2022.
